Getting physically fit requires a lot of self discipline and self education. You have to plan on eating right, develop an exercise program, and most importantly follow through with your goals. My suggestion for anyone desiring to purchase real estate today is to become business or real estate fit. In other words, take the time to educate yourself and then become aggressive in your pursuit to acquire real estate.
The real estate market is hot. There are more buyers than sellers. Inventory for available properties for sale is extremely low and this, coupled with the improving Bay Area economy, has caused prices to increase. Multiple offers to purchase property are occurring with regularity. It is more the rule than the exception that good properties in great locations are drawing multiple offers today. Desirable properties are often selling for more than the asking price. Competition is great; you cannot count on “luck”. You must be very aggressive, work hard to achieve your real estate goals.
The Bay Area is second only to New York in the number of Fortune 500 companies located here. Those companies claim about 35% of all venture capital invested in the United States. The majority of our productivity comes from high technology. However, bioscience, multimedia, telecommunication, financial services, wholesale and retail trade also have a very strong presence in the Bay Area economy. The Bay Area economic prospects remain strong and should return to growth in the 5% range in the near future.
I really feel that our area has good times ahead due to this combination of factors within our local economy. In my opinion, what you see happening to the real estate market now is likely to continue. I recommend that you get yourself “fit” to do business. You must put extra effort into preparing yourself before you actually purchase real estate. Get a credit report and clear up any possible problems with your credit in advance. Definitely meet with a lender and get pre-approved, not just pre-qualified. Start looking at property so that you can become familiar with amenities that are important to you. Your Realtor can help you with this process. Find a Realtor that you really trust and feel comfortable with. It really helps to have a Realtor who understands your concerns and desires. Work with your Realtor and become aggressive in your real estate fitness training. The more organized and real estate fit you become, the more likely you will accomplish your goals. Get started now. We represent some of the largest real estate investors on the mid-peninsula. We have helped them and we can help you.